New Issue: Shanghai Pudong prices $400 million 3¼% green bonds due 2025 at 99.697

By Marisa Wong

Los Angeles, July 11 – Shanghai Pudong Development Bank Co., Ltd., London Branch priced $400 million of 3¼% green bonds due 2025 (Baa2) at 99.697, according to an offering circular.

Bank of China (Hong Kong) Ltd., Credit Agricole CIB, J.P. Morgan Securities plc, Shanghai Pudong Development Bank Co., Ltd., Hong Kong Branch, SPDB International Capital Ltd., Standard Chartered Bank, Agricultural Bank of China Ltd. Hong Kong Branch, ABCI Capital Ltd., Agricultural Bank of China Ltd., Singapore Branch, Bank of China Ltd., London Branch, Bank of Communications Co., Ltd. Hong Kong Branch, China Construction Bank (Asia) Corp. Ltd., China Construction Bank (Europe) SA, CCB International Capital Ltd., China Minsheng Banking Corp., Ltd., Hong Kong Branch, China International Capital Corp. Hong Kong Securities Ltd., Citigroup Global Markets Ltd., China Citic Bank International Ltd., CLSA Ltd., CMB Wing Lung Bank Ltd., CNCB (Hong Kong) Capital Ltd., DBS Bank Ltd., Hongkong and Shanghai Banking Corp. Ltd., Industrial and Commercial Bank of China (Asia) Ltd., Industrial and Commercial Bank of China Ltd., Dubai (DIFC) Branch, Industrial and Commercial Bank of China Ltd., London Branch, Industrial and Commercial Bank of China Ltd., Singapore Branch, Industrial Bank Co., Ltd. Hong Kong Branch, Nanyang Commercial Bank, Ltd., Natixis and Shanghai Pudong Development Bank Co., Ltd. Singapore Branch are the joint bookrunners and joint lead managers.

Bank of China (Hong Kong), Credit Agricole, J.P. Morgan, Shanghai Pudong Development Bank Hong Kong Branch, SPDB International and Standard Chartered Bank are also joint global coordinators for the Regulation S offering.

Proceeds will be used to finance or refinance eligible green assets or projects in clean transportation and green buildings.

The lender is based in Shanghai.

Issuer:	Shanghai Pudong Development Bank Co., Ltd., London Branch
Amount:	$400 million
Description:	Green bonds (medium-term notes, series 10 tranche 1)
Maturity:	July 14, 2025
Bookrunners:	Bank of China (Hong Kong) Ltd., Credit Agricole CIB, J.P. Morgan Securities plc, Shanghai Pudong Development Bank Co., Ltd., Hong Kong Branch, SPDB International Capital Ltd., Standard Chartered Bank, Agricultural Bank of China Ltd. Hong Kong Branch, ABCI Capital Ltd., Agricultural Bank of China Ltd., Singapore Branch, Bank of China Ltd., London Branch, Bank of Communications Co., Ltd. Hong Kong Branch, China Construction Bank (Asia) Corp. Ltd., China Construction Bank (Europe) SA, CCB International Capital Ltd., China Minsheng Banking Corp., Ltd., Hong Kong Branch, China International Capital Corp. Hong Kong Securities Ltd., Citigroup Global Markets Ltd., China Citic Bank International Ltd., CLSA Ltd., CMB Wing Lung Bank Ltd., CNCB (Hong Kong) Capital Ltd., DBS Bank Ltd., Hongkong and Shanghai Banking Corp. Ltd., Industrial and Commercial Bank of China (Asia) Ltd., Industrial and Commercial Bank of China Ltd., Dubai (DIFC) Branch, Industrial and Commercial Bank of China Ltd., London Branch, Industrial and Commercial Bank of China Ltd., Singapore Branch, Industrial Bank Co., Ltd. Hong Kong Branch, Nanyang Commercial Bank, Ltd., Natixis and Shanghai Pudong Development Bank Co., Ltd. Singapore Branch
Trustee:	As fiscal agent, Bank of New York Mellon, London Branch
Counsel to issuer:	Linklaters LLP (England), Shanghai United Law Firm (China)
Counsel to underwriters:	Clifford Chance (England), Global Law Office (China)
Coupon:	3¼%
Price:	99.697
Call option:	None
Put option:	None
Pricing date:	July 7
Issue date:	July 14
Rating:	Moody’s: Baa2
Distribution:	Regulation S
ISIN:	XS2495850179

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